** Iran moves Forex Assets from Europe **

TEHRAN (AP)—Iran is moving its foreign exchange reserves out of European
banks as a protection against any possible U.N. sanctions over its nuclear
program, the Central Bank Governor said Friday.
Ebrahim Sheibani told reporters that Iran began withdrawing its foreign
exchange reserves from European banks and transferring them to an undisclosed
location, the semiofficial Iranian Students News Agency reported.
Iran is facing possible referral to the U.N. Security Council for possible
economic sanctions for its refusal to give up its uranium enrichment program.

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3 Responses to “** Iran moves Forex Assets from Europe **”

  1. [...] We believe markets will be dominated by the oil related news once again. Although the Iran situation might call for friendy solution (it’s really not in Europe’s or the US’s interest to see oil breaking to new highs) we’re not exactly sure Iran looks at it the same way: Iran’s removal of forex reserves from Europe doesn’t indicate that Iran is betting on a quick political solution. [...]

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